Binh Duong residential market grows 11% annually

BINH DUONG (Homeid) ― The residential market in the southern province of Binh Duong grew on average 11 per cent per year over the last five years, Savills Viet Nam said in a report on Thursday.

The Oasis villas in Binh Duong. The residential market in the southern province has grown on average 11 per cent per year since 2009. — Photo cafeland.vn

 

As of August, there were 49 apartment, villa and townhouse projects in Binh Duong, supplying about 11,000 units or dwellings. All are located within the five main areas of including Thuan Thanh, Di An, Thu Dau Mot, Ben Cat and Binh Duong New City.

For the apartment segment, active projects cost US$800-1,200 per square metre, or $80,000-120,000 per unit.

For the landed property segment, the popular price range is $550-1,000 per square metre, and a dwelling costs between $50,000-110,000.

 

Binh Duong residential stock by districts, August 2013. — VNS Photo

 

According to Savills, most of the residential projects in Binh Duong target middle management groups and buyers from other provinces and cities.Landed property prices are higher in Binh Duong New City, where the popular townhouse prices reach $200,000-260,000 per dwelling, or $1,500-2,100 per square metre.

They are especially attractive to buyers from Ha Noi and HCM City, who are mostly long-term investors seeking capital gain or rental income.

From 2013, 18 future projects are expected to come online, providing more than 11,800 dwellings in the apartment, villa and townhouse segments. The apartment sector accounts for the largest share in the total future supply at approximately 77 per cent.

Savills said the provincial population of around 1.7 million, of which 75 per cent were the working age, showed potential for residential market development. ― VNS

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